As the London-based lender continued to restructure operations and reduce expenses, banking behemoth HSBC announced on Tuesday that net profit increased a less-than-expected 45.5 percent year over year in the third quarter. According to HSBC’s report to the Hong Kong stock exchange, profit attributable to shareholders for the three months ending in September was US$7 billion, up from US$4.87 billion a year earlier. Revenue increased by US$0.8 billion to US$18.6 billion, while pre-tax profit increased by 32% to US$9.6 billion.
In the filing, chief executive Georges Elhedery stated, “As we simplify HSBC, we are creating greater capacity to invest, grow, and deliver strong returns for our shareholders.” Along with announcing a second US$1 billion repurchase after finishing one in the preceding three months, the banking behemoth also approved a third interim dividend of US$0.10 per share. According to HSBC, it is still “confident in achieving the targets” that were established earlier this year.We are still aiming for yearly revenue growth from 2026 to 2028, with a five percent increase in 2028 over 2027,” the statement stated. For 2025, the firm anticipated banking net interest income of at least $46 billion USD.
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